Monmouth College received largest gift in its history

April 28, 2017

Photo courtesy of Monmouth College - The Alumni Office celebrates 18 hours and 53 minutes of fundraising from around the country.

Monmouth College received a $20 million commitment on Monday, April 24. This generous gift is the largest commitment in the history of Monmouth College. Additionally, it is one of the largest gifts given to an Illinois liberal arts college ever.

The record-breaking commitment was given by an anonymous donor in order to expand the college’s endowment, which currently sits around $100 million. $15 million of the gift will be received over the near term, or the next few years, and the remaining $5 million will come as a deferred gift.

President Wyatt explained at a meeting with the college’s Board of Trustees that the couple that made the commitment did so because they believe in Monmouth College’s mission as a place of higher opportunity and achievement.

President Wyatt said that the donors are longtime supporters of Monmouth College. “They are passionate about this college because they know the difference it makes in young people’s lives. The couple knows that in order for Monmouth to continue to be a leader, it must have a strong endowment that not only supports its mission but also helps the college to chart its own path with greater confidence and ambition, even in the face of external uncertainties.”

According to the chairman of the Board of Trustees, William Goldsborough, the $20 million commitment is another step toward securing the college’s future. Goldsborough expressed the gratitude of the college community for the record-breaking gift because it will help the college and its student’s not just today, but for many years to come.

“It serves not only the Monmouth College of today, but also strengthens the Monmouth College of tomorrow, moving it to even greater levels of ambition, acclaim and service,” stated Goldsborough. “It also provides a powerful example for others who believe in the mission of Monmouth College to follow.”

The commitment to the endowment will be used to aid in many branches of the college. This includes increasing funds for student scholarships and financial aid, support for faculty and staff development, it will increase the college’s capital improvement fund, and lastly, attract new and potential donors.